SGVT vs. JMMF

Last updated Jun 4, 2026

SGVT (Schwab Government Money Market ETF) and JMMF (JPMorgan 100% U.S. Treasury Securities Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.44 correlation, their price movements are largely independent. SGVT charges 0.28%/yr vs 0.16%/yr for JMMF.

Performance

SGVT vs. JMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Government Money Market ETF (SGVT) and JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SGVT having a 1.41% return and JMMF slightly higher at 1.43%.

SGVT

• 1D: 0.01%
• 1M: 0.27%
• YTD: 1.41%
• 6M: 1.71%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JMMF

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.43%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SGVT vs. JMMF - Yearly Performance Comparison

	2026 (YTD)	2025
SGVT Schwab Government Money Market ETF	1.41%	0.21%
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.43%	0.17%

Correlation

The correlation between SGVT and JMMF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.44

Return for Risk

SGVT vs. JMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Government Money Market ETF (SGVT) and JPMorgan 100% U.S. Treasury Securities Money Market ETF (JMMF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SGVT	JMMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	18.57	6.43	+12.14

Drawdowns

SGVT vs. JMMF - Drawdown Comparison

The maximum SGVT drawdown since its inception was -0.03%, smaller than the maximum JMMF drawdown of -0.14%. Use the drawdown chart below to compare losses from any high point for SGVT and JMMF.

Drawdown Indicators

	SGVT	JMMF	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.14%	+0.11%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.01%	+0.01%

Volatility

Volatility by Period

	SGVT	JMMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	0.54%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.20%	0.54%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.20%	0.54%	-0.34%

SGVT vs. JMMF - Expense Ratio Comparison

SGVT has a 0.28% expense ratio, which is higher than JMMF's 0.16% expense ratio.

Dividends

SGVT vs. JMMF - Dividend Comparison

SGVT's dividend yield for the trailing twelve months is around 3.12%, more than JMMF's 1.59% yield.

Position	TTM	2025
JMMF JPMorgan 100% U.S. Treasury Securities Money Market ETF	1.59%	0.20%
SGVT Schwab Government Money Market ETF	3.12%	1.73%

Frequently Asked Questions

Can I hold both SGVT and JMMF in my portfolio?

SGVT and JMMF have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SGVT or JMMF?

On fees, JMMF is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SGVT or JMMF?

JMMF is cheaper with a 0.16% expense ratio, compared with 0.28% for SGVT.

Which ETF pays a higher dividend yield, SGVT or JMMF?

SGVT has the higher dividend yield at 3.12%, compared with 1.59% for JMMF.

What is the main difference between SGVT and JMMF?

They also come from different issuers: Charles Schwab and JPMorgan. Their fees differ too: 0.28% for SGVT and 0.16% for JMMF.